European Markets Slide as Recessionary Risks Rise and PMIs Disappoint

European markets were mixed as investors reacted to the inconclusive results of Spain's election and anticipated a busy week of corporate earnings and central bank meetings. Fresh data indicated a slowdown in business activity in France, Germany, and the UK, heightening recessionary risks in Europe. The European Central Bank is expected to announce a rate hike and provide guidance on inflation-fighting efforts. Meanwhile, Asian markets were also mixed, with Japan's Nikkei 225 gaining on positive business activity data. US futures were flat ahead of the Federal Reserve's policy meeting and a week of corporate results. In the UK, economic activity slowed in July, while euro zone bond yields fell after weak PMI data. Stocks on the move included Bavarian Nordic, Ocado, Julius Baer, and Vodafone.